In the "CISM Review Manual 15th Edition" by ISACA, it is stated in Domain 4: Incident Management and Response, that continuous monitoring is a critical part of the overall incident management process, and it extends to monitoring third-party providers to ensure they meet the organization's security requirements.
Right-to-audit clause can include continuous monitoring. Audit =/= periodic (people get stuck with this). It's like you enable auditing of specific action or a file system in the OS. It's not periodic, it's constant (and you can call it continuous monitoring).
I understand that audit and assurance go hand in hand. However, if we have to pick between audit and continuous monitoring, I'd pick monitoring. Audit will provide the snapshot of the state of security at a specific time, which can change post audit. Continuous monitoring will be required for ongoing assurance.
Answer: A
A for sure, it's the only method to assure while audit can not since vendor can alter controls after the audit is closed. Besides, continuous monitoring generally performs after an audit or security assessment, why it is called "continuous monitoring" but not just "monitoring"
Continuous monitoring helps in ongoing oversight, but it may not cover all aspects of security requirements. Due diligence questionnaires provide initial information, but they may not be sufficient to validate the provider's security practices comprehensively. Performance metrics can indicate the provider's performance but may not directly address security requirements.
All these questions are so ambiguous. So much room for assumptions and interpretation. Continuous monitoring can give assurance but the best assurance is an audit. But a right to audit clause means nothing unless an audit is conducted in which case continuous monitoring gives better assurance than right to audit clause.
The right-to-audit clause in the contract provides the BEST assurance that a contracted third-party provider meets an organization's security requirements. This clause grants the organization the right to perform audits or inspections of the third-party's facilities, personnel, systems, or documentation. By exercising this right, the organization can confirm that the third-party is complying with security requirements and can identify any security gaps or deficiencies. Continuous monitoring, due diligence questionnaires, and performance metrics are all useful measures, but they cannot provide the same level of assurance as a direct audit.
Not really. An audit can also do that. The thing is continuous monitoring can only look for what has been programmed, but an auditor can adjust and look for things a computer can not. It can also interview, gather evidence and look for things proactively based on the findings/trail. This is something that can't be done with a static tech solution like continuous monitoring. Sure it's not efficient... but it's not about being efficient. It's about assuring the customer that everything is good. When it comes time to ask questions... people always prefer to talk to a human than a machine. So these combinations of factors are why I say the right to audit is the way to go.
TLDR: Auditors can adapt and change to follow their findings and find things proactively, while a continous monitoring solution is reactive and static in nature as the findings are only found after the fact and all new rules have to be built after it has already happened as it's impossible to predict all the outcomes... something you don't have to worry about with an auditors cause they can adjust as they see things.
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